Growing Your Supplier Business Dustin Luther
Growing as a Supplier
As you grow your supplier business, companies and prospective customers pull your business credit report to gauge your creditworthiness. It’s important that they’re impressed with what they see. Becoming a supplier to a large corporation can lead to a considerable increase in revenue, but may also come with additional costs to fulfill a larger order. You may find yourself needing to purchase additional materials, hire more staff, quickly increase your inventory and possibly even invest in technologies that are compatible with automated ordering systems. When you start competing for larger contracts, you may want to make sure you’re able to access additional funding to get the resources and materials you need.
If you think your company is ready to supply to a Fortune 100 company, you may find that some companies have specific requirement for your D&B scores and ratings. Many larger organizations and government entities require that you maintain a certain level of business credit in order keep your contract. That’s why a lot of suppliers rely on CreditBuilder™, one of the most effective solution for both monitoring and building your business credit, to build and maintain their business credit file. CreditBuilder helps give you control over your business credit file and the kind of information others see when they pull your file. With CreditBuilder, you can submit positive payment experiences* from your vendors and partners, dispute inaccurate information in your file, and help impact your business credit scores and ratings – all of which may help you more easily grow your business.
“I was aware that a D-U-N-S Number and good credit was important when establishing a company. What I was not aware of, however, was how immediate down the road both factors would come into play in helping us land an account with one of the largest retailers in the world. To date, one of Scrubblade’s biggest accomplishments would not have been possible without having the CreditBuilder product.”
- Billy Westbrook, Founder & CEO, Scrubblade
Get a supplier-industry credit expert to help manage your business credit file for you
When new opportunities arise, such as test-order for a large retailer, you can’t afford to waste time addressing potential issues with your business credit file. You should to be in a position to quickly access the resources you need to fulfill the order. That’s why so many supplier companies rely on our Credibility Concierge service.
With Credibility Concierge, you get a dedicated supplier industry-specific business credit expert to help you proactively manage your business credit file, so you can focus on what you do best: growing your business.
**Score improvement averages measured over a one-year period of time: 6 months prior to the purchase of Credibility Concierge and 6 months after the purchase of Credibility Concierge.
†Average performance improvement among Credibility Concierge customers.
“We were working on securing a contract with a large retailer and our D&B credit standings were falling short of their requirements. With the help of our Concierge Manager, we were able to secure the contract.”
Alok Modani, Choice Canning Company Inc.
Not sure where to begin? You can always call one of our credit advisors for a FREE
business credit consultation††. Call 1-800-701-7168 now.
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